African countries by Nominal GDP 2017 (IMF October 2017)

[Khalumi]

This is the list of the largest economies in Africa, figues in USD (billions)

Nigeria - 394.8
South Africa - 334.1
Egypt - Not Available (2016 - 332.3)
Algeria - 175.5
Angola - 124.0
Sudan - 118.9
Morocco - 110.7
Ethiopia - 79.7
Kenya - 78.4
Tanzania - 51.6
Ghana - 45.5
D.R Congo - 40.4
Cote D'Ivoire - 39.9
Tunisia - 39.9
Libya - 33.3
Cameroon - 30.7
Uganda -26.4
Zambia - 25.6



It is worth mentioning that entire Somalia GDP stands at $6.11 Billion

 

[Merchant of Mogadishu]

The only way is up.

 

[World]

Literally all those countries have large natural resources like oil, gold, diamonds, gas etc.

 

[Khalumi]

The following countries have smaller economies than Somalia in GDP

Burundi
Cape Verde
Central African republic
Comoros
Eritrea

The Gambia
Guinea-Bissau
Lesotho
Liberia
Mauritania

São Tomé and Príncipe
Seychelles
Sierra Leone
South Sudan
Swaziland
Togo

 

[Khalumi]

Literally all those countries have large natural resources like oil, gold, diamonds, gas etc.

There is nothing wrong with exploiting natural resources, all countries, including Somalia have resources. But many of these countries have started exploiting those resources. Somalia should be doing the same.

 

[Xooshdheere]

much of kenyas and nigerias GPD are somalis and their businesses

 

[Xooshdheere]

There is nothing wrong with exploiting natural resources, all countries, including Somalia have resources. But many of these countries have started exploiting those resources. Somalia should be doing the same.

nah we are too busy fighting over tribes in 2017 and some tuulos

we are simply too backward to exploit those resources

 

[legend]

You can't judge a country by its GDP.

 

[Bohol]

You can't judge a country by its GDP.

True. Eritrea is more developed than Somalia.


Asmara.

 

[Xooshdheere]

True. Eritrea is more developed than Somalia.


Asmara.

Asmara has decent infrastructure for an African country

 

[Bohol]

Asmara has decent infrastructure for an African country

Yh. They inherited it from the Italians and then upgraded it (they didn't destroy their capital like Mogadishu).

 

[Madaxkuti]

True. Eritrea is more developed than Somalia.


Asmara.

Exactly what I was gonna post. Even though they have a lower gdp their infastructure is top notch compared to somalias.
Also most the GDP goes to politicians pockets in somalia

 

[legend]

True. Eritrea is more developed than Somalia.


Asmara.

I'd even say it has better living standard then Nigeria which has the highest GDP.

 

[Bohol]

I'd even say it has better living standard then Nigeria which has the highest GDP.

Eritrean girls are also pretty.

 

[Nightline Kid]

Ok here’s some quick economics for you guys.

GDP stands for gross domestic product and its the market value of all goods and services produced by a country in a given period. For example, if a “country” produced and sold 5 apples for $1 each and 6 bananas for $2, its GDP would be $17.

Now the real thing you need to know is that GDP does not necessarily reflect a standard of living. It helps, sure, but its not concrete. For example, money made in black markets, like drug dealing, will not count in the overall GDP. Non-market activities ranging from the aforementioned black markets, bartering, and unpaid work are present in many third world countries. It also doesn’t reflect income inequality, the gap between the rich and the poor.

One way of figuring these discrepancies out is by dividing the GDP by the population to give you the average income. If the number is doubtfully low, it could be a sign that there are rampant non-market activities.

In Somalia’s case, the average income per person a year would be roughly $600. Make of that what you will.

 

[Thegoodshepherd]

True. Eritrea is more developed than Somalia.


Asmara.

Asmara is not Ethiopia though. Less than 20% of the people in Eritrea apparently live in Asmara. The other 80% are incredibly poor peasants. A lot of African countries like Tanzania combine large, well built districts in their capitals with astronomical levels of poverty in the countryside where the majority of the people live.

 

[Bohol]

Asmara is not Ethiopia though. Less than 20% of the people in Eritrea apparently live in Asmara. The other 80% are incredibly poor peasants. A lot of African countries like Tanzania combine large, well built districts in their capitals with astronomical levels of poverty in the countryside where the majority of the people live.

Nevertheless it is important for the capital to look good since it is the face of the nation.

 

[Abdalla]

Ok here’s some quick economics for you guys.

GDP stands for gross domestic product and its the market value of all goods and services produced by a country in a given period. For example, if a “country” produced and sold 5 apples for $1 each and 6 bananas for $2, its GDP would be $17.

Now the real thing you need to know is that GDP does not necessarily reflect a standard of living. It helps, sure, but its not concrete. For example, money made in black markets, like drug dealing, will not count in the overall GDP. Non-market activities ranging from the aforementioned black markets, bartering, and unpaid work are present in many third world countries. It also doesn’t reflect income inequality, the gap between the rich and the poor.

One way of figuring these discrepancies out is by dividing the GDP by the population to give you the average income. If the number is doubtfully low, it could be a sign that there are rampant non-market activities.

In Somalia’s case, the average income per person a year would be roughly $600. Make of that what you will.

So are you saying that theres a lot of non-market activities in Somalia? Are you downplaying the insides GDP rates give? I don't get the purpose of this post TBH.

 

[Nightline Kid]

So are you saying that theres a lot of non-market activities in Somalia? Are you downplaying the insides GDP rates give? I don't get the purpose of this post TBH.

No I just saw a post or two talking about GDP as it pertains to standards of living and whatnot. I’m not trying to downplay GDP, but I was trying to show that it technically isn’t a 100% surefire way of measuring a country’s economic success. I guess it was supposed to supplement the information provided in the OP. I did say “Make of this what you will” at the end of the post, after all.

 

[Adam Mo]

This is the list of the largest economies in Africa, figues in USD (billions)

Nigeria - 394.8
South Africa - 334.1
Egypt - Not Available (2016 - 332.3)
Algeria - 175.5
Angola - 124.0
Sudan - 118.9
Morocco - 110.7
Ethiopia - 79.7
Kenya - 78.4
Tanzania - 51.6
Ghana - 45.5
D.R Congo - 40.4
Cote D'Ivoire - 39.9
Tunisia - 39.9
Libya - 33.3
Cameroon - 30.7
Uganda -26.4
Zambia - 25.6



It is worth mentioning that entire Somalia GDP stands at $6.11 Billion

For a country in war, hasnt yet taken advantage of its natural resources, does not have access to FDI, no trade deals entered into. There's a lot of room for improvement.